>>Apparently you missed the last telecon bubble. But of course you have your head in the sand?
Apparently you don't know the dynamics of the the curve. The demand-supply curve can explain the bubble just as well. The over-supply of telecomm or dot com companies litterally shifts the supply curve rightward while the total demand for those businesses remains unchanged. Therefore the price at the equilibrium point on both curves moves to a lower price at which some competitors cannot make ends meet in order to saty in business, so their bubbles blow up. It's a dynamic process and will eventually reach the dynamic equilibrium status, generating a market price for the product.